IFC Provides $45.3 Million in Financing for CleanMax’s Solar Projects in Thailand

Clean Max Enviro Energy Solutions Pvt Ltd (CleanMax) is set to receive USD 45.3 million (RHB 1.48 billion) in debt financing from the International Finance Corporation (IFC) to support its solar energy expansion in Thailand.

The funding will be directed to CleanMax Energy Thailand Company Limited, a Thai subsidiary of CleanMax. The investment will help finance the development of 35 MWp of new solar projects, while also refinancing 41 MWp of existing operational photovoltaic (PV) assets in the commercial and industrial (C&I) sector.

This marks IFC’s first debt investment in Thailand’s renewable energy sector focused entirely on C&I projects, signaling growing confidence in decentralized clean energy solutions for businesses.

“Our collaboration with IFC will help us scale our presence in Thailand, attract further commercial investment, and contribute meaningfully to the country’s renewable energy goals,” said Kuldeep Jain, Managing Director of CleanMax.

Backed by Brookfield, CleanMax currently operates a 2.2-GW portfolio of renewable energy assets across India, Southeast Asia, and the Middle East.